Rome (Jan. 28, 2004) -- A new audit of Parmalat Finanziaria SpA has reportedly revealed that the scandal-engulfed company’s debt was about $15.6 billion greater than it reported in the fall.

The audit by PricewaterhouseCoopers, released earlier this week, showed that net debt stood at roughly $17.9 billion for the nine-month period ended in September -- not the $2.3 billion (1.8 billion euros) that Parmalat reported previously, according to published reports.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access